MarketWatch: With a June Federal Reserve interest rate hike likely off the table following Friday's dismal jobs data, US equity investors may shift their focus again to whether the economy is losing too much steam to allow stocks to advance. - Reuters
Top foreign stories
As Abenomics struggles, Japan PM pushes 'equal pay' to lift economy: Japanese Prime Minister Shinzo Abe has put tackling Japan's labour inequality at the centre of his policy agenda as the number of temporary workers hits a record high, posing a challenge to his "Abenomics" stimulus package ahead of a summer election. - Reuters
Singapore's malls suffer as locals, tourists curb spending: Singapore's reputation as a shoppers' paradise, which saw investors pour S$10 billion ($US7.25 billion) into retail developments here in the past five years, is taking a pummelling because of weakness in the local economy and a drop in spending by tourists. - Reuters
Investors add Brexit clauses to British property deals before EU vote: Commercial property investors are writing clauses into contracts giving buyers the right to walk away from real estate deals if Britain votes to leave the European Union this month, as a way to unfreeze a sector stalled by uncertainty over Brexit. - Reuters
Top local stories
Astro
to expand reach: Astro Malaysia Holdings Bhd is targeting to serve 90% of Malaysia’s households and increase its average revenue per user to RM119 in five years. Astro’s free satellite TV service, NJOI, which is also Malaysia’s first free satellite TV service, is expected to be the driver of Astro’s reach growth, besides its pay TV model. - StarBiz
Mexter causing a stir: Months after divesting his stake in hospital group HSC Healtcare Sdn Bhd which he co-founded, Lim Yin Chow has surfaced again in the corporate scene by emerging as a major shareholder in Mexter Technology Bhd, with a 28.4% stake. Bursa filings by Mexter show Lim purchased 55.8 million shares at 15 sen apiece through his vehicle LYC Capital Sdn Bhd, which works out to around RM8.4mil. - StarBiz
Banks’ NIMs to contract further this year: Net interest margins (NIMs) of banks are expected to contract by between five and 10 basis points this year, an improvement from a contraction of 12 bps last year amid some banks raising their base rates. - StarBiz
SCIB in concrete supply talks: Concrete products maker Sarawak Consolidated Industries Bhd (SCIB) is negotiating to supply pre-cast concrete products to two consortia that were recently awarded construction job for the RM16bil Pan Borneo Highway project. - StarBiz
IJM to start second phase of iconic project: Property developer IJM Land Bhd will start construction of the second phase of The Light Waterfront, a RM3bil joint-venture project, along the Tun Dr Lim Chong Eu Expressway by the year-end. - StarBiz
Govt’s biodiesel initiative to boost CPO: The Government’s commitment to enhancing the biodiesel programme will help stabilise the price of crude palm oil (CPO), Felda Global Ventures Holdings Bhd group president and chief executive officer Datuk Zakaria Arshad said. The Government’s initiative in increasing the blend for the transport sector from B7 to B10 and introducing B7 for the industrial sector was a timely move, he said. - Staiz
Aeon associate to open theme park in Johor mall: Aeon Fantasy (M) Sdn Bhd, in which Aeon Co (M) Bhd has a 20% stake, will open a theme park in Aeon Mall Tebrau City’s new wing in Johor.
Known as Fanpekka, the theme park would be based on a Finnish conceptual theme park and is scheduled to open on Oct 27, 2016. - StarBiz
Eonmetall’s oil extraction plant gaining traction: Eonmetall Group Bhd, a metalwork and industrial process machinery and equipment manufacturer, is seen as a major beneficiary of the rebound in the palm oil industry, given the increase in demand for new milling equipment. - Edge FD
South Korean transport minister to promote HSR: South Korea’s ministry of land, infrastructure and transport plans to engage with parties in Malaysia to promote its high-speed rail (HSR) technology, in a move to facilitate a South Korean consortium’s bid for the upcoming 375km Kuala Lumpur-Singapore HSR project. - Edge FD
MDEC teams up with Indonesia’s Kejora Group: The Malaysia Digital Economy Corp (MDEC) has announced a strategic partnership with Kejora Group, Indonesia’s leading company-building venture capital firm, to facilitate business expansion opportunities for a mutually beneficial and synergetic relationship between companies under the portfolio of each party. - Edge FD
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